<!-- Swiftype Variables -->

Real Estate

Carlyle Realty Partners VIII closes at $5.5 billion

The Carlyle Group has closed Carlyle Realty Partners VIII at $5.5 billion, a spokeswoman confirmed.

The opportunistic fund, which invests in U.S. residential and commercial real estate, hit its hard cap and exceeded its original $5 billion target. The prior fund, Carlyle Realty Partners VII, closed at $4.2 billion in 2015.

Investors in the latest fund include the $204.4 billion Florida State Board of Administration, Tallahassee; $78.6 billion Virginia Retirement System, Richmond; $96.2 billion Minnesota State Board of Investment, St. Paul; $51.3 billion Illinois Teachers' Retirement System, Springfield; $49.5 billion Tennessee Consolidated Retirement System, Nashville; $23.3 billion New Mexico State Investment Council, Santa Fe; $16.1 billion Arkansas Teacher Retirement System, Little Rock; and the $14.3 billion Ohio School Employees Retirement System, Columbus.

The Carlyle Group has $210 billion in assets under management, about $17 billion of which is in U.S. real estate.